The Ninoy Aquino International Airport (NAIA), the Philippines’ main gateway, is now officially managed by the private sector. On September 14, 2024, the government transferred operations of NAIA to New NAIA Infra Corp., a consortium led by San Miguel Corporation (SMC) and including the operator of South Korea’s Incheon International Airport.
This 15-year contract aims to modernize NAIA’s aging infrastructure, enhance passenger experience, and contribute to the country’s economic growth. The SMC-led group is set to invest significantly in upgrading facilities, expanding capacity, and boosting operational efficiency. Additionally, the government will receive a portion of the airport’s revenue.
While the privatization is expected to improve services and attract more tourism and investments, some concerns have been raised regarding potential increases in airport fees. Effective regulatory oversight will be essential to protect the interests of consumers and ensure the project’s success.